11, February 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The euro is under pressure from the dollar. The pair tries to overcome the resistance at 1.3550-1.3660. If the pair succeeds it will continue to restore its positions to the resistance levels 1.3830 and 1.4000. If EUR/USD does not overcome 1.3550-1.3660 we can expect a further decline to 1.3295 support or 1.3100.

There is a strong northern movement. The buy signal is confirmed and strong. The price is above the cloud and below the Chinkou Span. The upward movement will be until the Kijun-Sen is below the price. The Kijun-Sen and Tenkan-Sen are directed upwards.

Bollinger Bands is broadening being directed upward.
MACD is in a positive area, the histogram is growing.

Trading recommendations

The corrective recovery towards 1.3645 downward trend line is not supported by volumes.
If the price remains below the trend line, we can expect a return to the price support level 1.3520.